Today at CEW, we report on the announcement that JuE Wong has been made CEO of Performance Beauty Group (PBG). Owned by Texas-based private equity firm Gauge Capital, PBG’s brand portfolio in lashes, brows, eye, lip and hair includes Grande Cosmetics, Bondi Boost, Babe Original, Flutter Habit, Lilly Lashes, Velour and Nutraluxe. Wong was most recently the CEO of Olaplex Holdings Inc., which she took public in 2021.
The CEW Product Watch October 2024 has dropped, showcasing the latest launches of note, including top-to-toe skin care for the scalp, face, neck, body – even buttocks — plus Foreo’s first foray into scalp tech, and the rollout of holiday gift sets. Don’t miss CEW reporter Polly Blitzer’s guide to the month’s hottest new arrivals.
Also at CEW, we talk to Michelle LeBlanc, CVS’s recently appointed Vice President of Merchandising for Beauty, Personal Care & Hispanic Center of Excellence, about the way the retailer is marrying its joint expertise in inner and outer beauty care. “Today’s beauty routines are no longer just about achieving a specific outward appearance; they’re deeply intertwined with wellness, mental health, and self-care,” explains CEW reporter Didi Gluck. Meanwhile, for brands thinking about selling their beauty businesses, we have insider insights from Raymond James Managing Directors Evan Merali and Marko Horvat. “Sometimes it’s better to take your time and make the right decisions about building the brand in a sustainable way that ensures the longevity of the business,” Evan Merali, Managing Director at Raymond James in London, told CEW reporter Gina Way.
Neiman Marcus has announced that Leonard A. Lauder, Chairman Emeritus of The Estée Lauder Companies (ELC), will receive the Neiman Marcus Award for Distinguished Service in the Field of Fashion this year. “Leonard Lauder is a singular force who forever changed the beauty industry,” said Geoffroy van Raemdonck, Chief Executive Officer, Neiman Marcus Group. “His stewardship led The Estée Lauder Companies to become home to some of the world’s most beloved beauty brands. Along every step of the way, he has been a remarkable partner in our journey to bring the world’s most coveted brands to our customers.” In other Estée Lauder news, the flagship brand makes its Amazon debut today — launching with a selection of skin care, makeup and scent. “We are excited to introduce our night science expertise, skin tone authority, and iconic fragrances to Amazon’s highly engaged, multigenerational beauty community, providing them with an elevated, high-touch experience to discover our best-in-class hero products,” commented Justin Boxford, Estée Lauder Global Brand President.
Actress Molly Sims has acquired investment for her Yse Beauty brand, targeted at Gen X consumers, from private equity firm Willow Growth Partners. The move will help Sims transition to wholesale in 2025. And on the other side of the pond, Royal Botanic Gardens, Kew has partnered with Procter & Gamble to apply its world-renowned scientific knowledge in identifying and authenticating key botanical ingredients in the Herbal Essences bio:renew range.
Catch up on these stories at the links below.
Performance Beauty Group (PBG) Appoints JuE Wong As CEO. PBG is owned by Texas-based middle-market private equity firm Gauge Capital. (CEW)
CEW Product Watch October 2024 Drops. Don’t miss our round-up of the month’s noteworthy new launches. (CEW)
CVS Marries Inner And Outer Beauty Care. CEW talks to Michelle LeBlanc, Vice President of Merchandising for Beauty, Personal Care & Hispanic Center of Excellence, about how the retailer is merging its extensive healthcare knowledge with its comprehensive cosmetics offerings. (CEW)
When Should Brands Sell Their Beauty Business? CEW talks to Raymond James Managing Directors Evan Merali and Marko Horvat. (CEW)
Leonard A. Lauder Honored With Neiman Marcus Award. Mr. Lauder will receive the Neiman Marcus Award For Distinguished Service in the Field of Fashion. (NEIMAN MARCUS GROUP)
Estée Lauder Makes Amazon Debut. The brand launches on the platform today. (WWD)
Molly Sims’ Yse Beauty Lands Investment. Private equity firm Willow Growth Partners has invested in the actress’ Gen X-targeted prestige beauty brand. (COSMETICS BUSINESS)
Herbal Essences Turns Over A New Leaf. The brand has partnered with Royal Botanic Gardens, Kew, which has identified and authenticated key ingredients in its bio:renew range. (ROYAL BOTANIC GARDENS, KEW)